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By Ray Le Maistre, Light Reading,
January 5, 2009, 12:20 AM
After years of IPO talk and more than $400 million in VC backing, Force10 Networks Inc. is to merge with fellow Ethernet vendor Turin Networks Inc. in what looks like a defensive consolidation move. (See Turin, Force10 Announce Merger.)
An announcement is due to be made at noon Eastern time today, though financial details are not due to be revealed. Henry Wasik, currently Turin's president and CEO, will continue in those roles at the new company, which will be called Force10 Networks Inc.
Current Force10 CEO James Hanley, who only took on that job in November 2008, will become president, field operations, with responsibility for sales, marketing, services, and business development. The merger is expected to close in March 2009.
It's unclear what cost-cutting measures will be implemented once the merger is complete, though it seems inevitable that the initial combined workforce of around 900 staff will be reduced.
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